CAMBRIDGE, ON, June 2, 2021 /CNW/ - ATS Automation Tooling
Systems Inc. (TSX: ATA) ("ATS" or the "Company"), an
industry-leading automation solutions provider, today announced it
has received an Order Booking from a global medical device company
for a fully automated manufacturing solution.
The Order Booking is valued at approximately $120 million, and includes the manufacturing,
build, delivery, and installation of several fully automated
manufacturing systems that will enable the customer to expand its
operational footprint globally. The program is a follow-on order
and builds on ATS' successful relationship with this key customer.
The program scope involves staggered deliveries spanning over the
next several months for multiple repeat machines and ATS is
leveraging its Repetitive Equipment Manufacturing division to
achieve the customer's capacity objectives. The program will
incorporate a number of ATS' proprietary technologies and products,
as well as post-installation training and support.
"This is an important award for ATS that fully leverages the
differentiated capabilities, innovations and services of our proven
life sciences business," said Andrew
Hider, CEO of ATS. "We look forward to delivering to plan.
This is a strategic program for our customer, and we are proud to
play an important role in its efforts to scale operations
globally."
The Order Booking will be recorded in ATS' first quarter of
fiscal 2022 and is expected to be delivered over the next 12
months.
About ATS
ATS is an industry-leading automation
solutions provider to many of the world's most successful
companies. ATS uses its extensive knowledge base and global
capabilities in custom automation, repeat automation, automation
products and value-added services, including pre-automation and
after-sales services, to address the sophisticated manufacturing
automation systems and service needs of multinational customers in
markets such as life sciences, food & beverage, transportation,
consumer products, and energy. Founded in 1978, ATS employs over
5,000 people at 28 manufacturing facilities and over 50 offices in
North America, Europe, Southeast
Asia and China. The
Company's shares are traded on the Toronto Stock Exchange under the
symbol ATA. Visit the Company's website at
www.atsautomation.com.
Note to Readers:
Non-IFRS Measures
Order Bookings is a non-IFRS measure and does not have any
standardized meaning prescribed within IFRS and therefore may not
be comparable to similar measures presented by other companies.
Such measures should not be considered in isolation or as a
substitute for measures of performance prepared in accordance with
IFRS. Additional information on non-IFRS measures can be found in
the Company's MD&A on SEDAR or on the Investor's section of the
Company's website.
Forward-looking Statements
This news release contains certain statements that constitute
forward-looking information within the meaning of applicable
securities laws ("forward-looking statements"). Such
forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause the actual results,
performance or achievements of ATS, or developments in ATS'
business or in its industry, to differ materially from the
anticipated results, performance, achievements or developments
expressed or implied by such forward-looking statements.
Forward-looking statements include all disclosure regarding
possible events, conditions or results of operations that are based
on assumptions about future economic conditions and courses of
action. Forward-looking statements may also include, without
limitation, any statement relating to future events, conditions or
circumstances. Forward-looking statements relate to, among other
things, the announcement of a new Order Booking; the anticipated
timeline for delivery. The risks and uncertainties that may affect
forward-looking statements include, among others: the progression
of COVID-19 and its impacts on the Company's ability to operate its
assets, including the possible shut-down of facilities due to
COVID-19 outbreaks; the severity and duration of the COVID-19
pandemic in all jurisdictions where the Company conducts its
business; the nature and extent of government imposed restrictions
on travel and business activities and the nature, extent, and
applicability of government assistance programs, in both cases
related to the COVID-19 pandemic, as applicable in all
jurisdictions where the Company conducts its business; the impact
of the COVID-19 pandemic on the Company's employees, customers, and
suppliers; the impact of the global economy and general market
performance; that the timing of completion of the program is other
than as expected due to various reasons, including schedule changes
or COVID-19 pandemic related factors; the customer exercising any
right to terminate the program in whole or in part prior to its
completion, thereby preventing ATS from realizing on the full
benefit of the program; management effectiveness and disaster
response preparedness, including business continuity plans in
response to COVID-19; that one or more customers, or other entities
with which the Company has contracted, experience insolvency or
bankruptcy with resulting delays, costs or losses to the Company;
political, labour or supplier disruptions; risks relating to legal
proceedings to which ATS is or may become a party; exposure to
product and/or professional liability claims; and other risks
detailed from time to time in ATS' filings with Canadian provincial
securities regulators. There can be no assurance that forward
looking statements or information will prove to be accurate, as
actual results and future events could differ materially from those
anticipated in such statements. Accordingly, you should not place
undue reliance on the forward-looking statements or information
contained herein which speak only as of the date they are made.
Forward-looking statements are based on management's current plans,
estimates, projections, beliefs and opinions, and other than as
required by applicable securities laws, ATS does not undertake any
obligation to update forward-looking statements should assumptions
related to these plans, estimates, projections, beliefs and
opinions change.
SOURCE ATS Automation Tooling Systems Inc.